Streetbeat News

Regulatory

DWAC

SPY

Trump aide, Meadows, has pleaded not guilty to charges of subverting the Georgia election. The news may have implications for DWAC and SPY.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:57 pm

HSDT

Helius Medical Technologies, Inc. (NASDAQ:HSDT) shares are trading higher after the company gained compliance with all applicable Nasdaq listing criteria. The company received formal notice from the Nasdaq Listing Qualifications that it has evidenced full compliance with the minimum bid price requirement. The stock has attracted the attention of short-sellers with 17.52% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

September 05, 2023 | 2:56 pm

EWU

NVO

Britain's National Health Service (NHS) has announced that Novo Nordisk's obesity drug, Wegovy, is now available within the NHS system.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:46 pm

JCSE

JE Cleantech Holdings Limited (NASDAQ:JCSE) has announced that its members have approved a potential consolidation of the company's ordinary shares, ranging from 1-for-1.5 to 1-for-10, at an Extraordinary General Meeting. The move is aimed at regaining full compliance with the Nasdaq's share price listing rule, which requires the bid price for the company's shares to close at $1.00 per share or more for a minimum of 10 consecutive business days.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:31 pm

AMD

BIDU

GOOG

GOOGL

NVDA

China's $40 billion state fund aims to boost the domestic chip industry, challenging US companies like Nvidia and AMD. The fund is a response to the US semiconductor embargo that barred China from acquiring Nvidia and AMD's AI chips. Meanwhile, Huawei and SMIC have built an advanced 7-nanometer processor, and Baidu has announced over ten new AI-based applications. US chipmakers warn of potential damage from the embargo.

Portfolio Pulse from Anusuya Lahiri

September 05, 2023 | 2:13 pm

CSX

NSC

SPY

UNP

The House Oversight Committee is investigating the Transportation Department's response to recent air and rail safety issues, according to Reuters. The probe may involve companies such as Canadian Pacific (CP), CSX Corporation (CSX), Norfolk Southern Corporation (NSC), SPDR S&P 500 ETF Trust (SPY), and Union Pacific Corporation (UNP).

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:05 pm

GOOG

GOOGL

META

Meta Platforms Inc (NASDAQ:META) announced that Facebook News will cease to exist in the U.K., France, and Germany in early December. This move is part of Meta's strategy to prioritize features that users are interested in, such as short-form videos. The decision also marks Meta's protest against laws in these countries that require tech companies to negotiate commercial deals and pay news publishers for their content. Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Facebook have previously struck deals with Australian media companies after they offered amendments to the legislation.

Portfolio Pulse from Anusuya Lahiri

September 05, 2023 | 2:01 pm

SPY

The USA CB Employment Trends Index for August has decreased to 113.02 from 115.45 in the previous month.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:01 pm

Mastercard has issued a press release stating that it will not be raising interchange rates or network fees in the U.S. this fall and has no plans to do so. The company also clarified that the Authorization Optimizer service is the only Mastercard fee noted in a study cited by the Wall Street Journal, and it is not related to interchange rates or network fees. The press release also mentioned that Congress is considering legislation that could potentially lower costs for merchants but could have negative consequences for consumers.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 1:56 pm

TNXP

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) shares are trading lower after the company announced topline results from the Phase 2 proof-of-concept PREVAIL study of TNX-102 SL 5.6 mg for managing fibromyalgia-type Long COVID. The treatment showed improvements in fatigue, sleep quality, cognitive function, disability, and patient global impression of change, but did not meet the primary endpoint of improving Long COVID pain intensity scores at Week 14. Tonix plans to meet with the FDA to discuss a path to registration.

Portfolio Pulse from Vandana Singh

September 05, 2023 | 1:51 pm